Sixth Street Specialty Lending (NYSE:TSLX) Trading Down 0.6% – Here’s What Happened

Sixth Street Specialty Lending, Inc. (NYSE:TSLX) dropped 0.6% on Wednesday . The stock traded as low as $21.23 and last traded at $21.29. Approximately 40,550 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 347,119 shares. The stock had previously closed at $21.41.

Analysts Set New Price Targets

TSLX has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price target on Sixth Street Specialty Lending from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lowered their price objective on Sixth Street Specialty Lending from $23.00 to $21.50 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $23.00 target price on shares of Sixth Street Specialty Lending in a research note on Tuesday, November 12th. Finally, LADENBURG THALM/SH SH upgraded Sixth Street Specialty Lending from a “neutral” rating to a “buy” rating and set a $21.00 price objective for the company in a research note on Wednesday, November 6th. Six analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $22.00.

Sixth Street Specialty Lending Trading Up 0.5 %

The company has a debt-to-equity ratio of 1.17, a current ratio of 2.50 and a quick ratio of 2.50. The business’s 50 day moving average is $20.57 and its 200 day moving average is $20.99. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 10.33 and a beta of 1.06.

Sixth Street Specialty Lending (NYSE:TSLX) last released its quarterly earnings data on Tuesday, November 5th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. Sixth Street Specialty Lending had a net margin of 39.05% and a return on equity of 13.55%. The company had revenue of $119.22 million during the quarter, compared to the consensus estimate of $119.85 million. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, equities analysts expect that Sixth Street Specialty Lending, Inc. will post 2.32 earnings per share for the current fiscal year.

Sixth Street Specialty Lending Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, December 20th. Stockholders of record on Monday, December 2nd will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a dividend yield of 7.59%. Sixth Street Specialty Lending’s dividend payout ratio (DPR) is presently 89.32%.

Hedge Funds Weigh In On Sixth Street Specialty Lending

Several institutional investors have recently added to or reduced their stakes in TSLX. Van ECK Associates Corp increased its position in shares of Sixth Street Specialty Lending by 6.6% during the third quarter. Van ECK Associates Corp now owns 2,289,435 shares of the financial services provider’s stock valued at $47,117,000 after buying an additional 141,463 shares during the period. Progeny 3 Inc. boosted its position in shares of Sixth Street Specialty Lending by 10.6% during the third quarter. Progeny 3 Inc. now owns 2,252,774 shares of the financial services provider’s stock valued at $46,249,000 after buying an additional 215,996 shares during the last quarter. Sound Income Strategies LLC boosted its position in Sixth Street Specialty Lending by 2.5% in the third quarter. Sound Income Strategies LLC now owns 2,183,060 shares of the financial services provider’s stock worth $44,818,000 after purchasing an additional 53,961 shares during the last quarter. Burgundy Asset Management Ltd. boosted its position in Sixth Street Specialty Lending by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 2,105,853 shares of the financial services provider’s stock worth $44,960,000 after purchasing an additional 29,034 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its position in Sixth Street Specialty Lending by 6.6% in the second quarter. 1832 Asset Management L.P. now owns 1,279,000 shares of the financial services provider’s stock worth $27,307,000 after purchasing an additional 79,000 shares during the last quarter. 70.25% of the stock is owned by institutional investors.

Sixth Street Specialty Lending Company Profile

Sixth Street Specialty Lending, Inc (NYSE: TSLX) is a business development company. The fund provides senior secured loans (first-lien, second-lien, and unitranche), unsecured loans, mezzanine debt, and investments in corporate bonds and equity securities and structured products, non-control structured equity, and common equity with a focus on co-investments for organic growth, acquisitions, market or product expansion, restructuring initiatives, recapitalizations, and refinancing.